Trump Budget Sees $1 Trillion Deficits for Next Four Years

The fiscal 2020 proposal sees the deficit expanding to $1.1 trillion for 2019 and 2020, when Trump will run for re-election. The budget deficit has already climbed 77 percent in the first four months of the current fiscal year through September, according to Treasury Department data. Growing budget deficits would run contrary to the narrative put forth by the Trump administration that a package of tax cuts that took force last year will pay for themselves through faster economic growth.

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